Which ID verification type should I use?

To ensure security and smooth customer experience, we require customers to verify their identity. For ID verification, you will be required to enter your National Identification Number (NIN), usually a 10‑digit number, your verification will be completed within minutes. To get your NIN Dial *346*1# from a SIM card registered to you.

Does this platform offer a promotional program or bonus for inviting friends to download the app using my unique referral code?

Yes! iPayBTC offers a referral program where you can earn rewards for inviting friends to download the app using your unique referral link. Here’s how it works: 1. Go to the iPayBTC app and find your refer and earn feature 2. Share the link with friends, family, or your network. 3. Earn rewards when they sign up and complete their first transaction!

What is Satoshi converter?

A Satoshi Converter helps you convert Bitcoin to its smallest unit, Satoshis (sats). Example: 1 BTC = 100,000,000 Satoshis. iPayBTC provides an easy way to check these conversions!

What is a bitcoin address?

A Bitcoin address is a unique string of letters and numbers used to send or receive Bitcoin. Think of it as your "crypto bank account number."

What is the minimum Bitcoin amount required to create a wallet or initiate a transaction?

No minimum balance is required to create an iPayBTC wallet. The minimum amount depends on network fees and transaction type.

My Google authenticator code is not working, what should I do?

Go to Google Authenticator and delete the Google auth Try resyncing your codes in the Authenticator app. If you recently changed devices, disable and re‑enable 2FA from your account settings. Still having issues?, Contact iPayBTC Support for account recovery assistance.

Can I change my name after verification?

After your name has been verified with your legal documents, you cannot change your name again. If there has been an error with the verification, you can reach out to support with an updated copy of the accurate ID documents

My lightning send‑out attempts are failing, why?

Contact iPayBTC support immediately.

How to send Bitcoin (On chain)?

Log in to your iPayBTC account. Navigate to "Send Bitcoin" in your wallet. Choose On‑Chain Network for the transaction. Enter the recipient’s Bitcoin address (double‑check to avoid errors). Input the amount you want to send. Review transaction details and confirm. The transaction will be processed and recorded on the Bitcoin blockchain

What is a bitcoin transaction hash?

A Bitcoin transaction hash (TXID) is a unique identifier assigned to every Bitcoin transaction. It is a 64‑character hexadecimal string (made up of numbers and letters a–f) that serves as a fingerprint for a specific transaction and can be used to track the status of a bitcoin transaction on the blockchain

What is the minimum and maximum amount I can send or receive via the lightning network?

Minimum Amount: No minimum—you can send or receive any amount of Bitcoin. Maximum Amount: You can send up to 150,000 sats (0.0015 BTC) per transaction, and receive any amount

My email is not accepted for sign up, what should I do?

Double‑check that you're entering a valid and correctly formatted email. Avoid temporary or disposable emails—iPayBTC only accepts trusted email providers. If the issue persists, try a different email or contact iPayBTC Support.

Can I change my phone number or Email?

No, you can’t change your email or phone number, kindly contact support for such a request.

My ID verification process is not working, why?

Ensure your ID type is supported. Make sure your personal details are not mismatched. Sometimes, ID checks take longer due to high demand. If it's been more than 24 hours, contact iPayBTC Support.

My verification has been pending for a long time.

Usually, we complete verification after 5 to 10 minutes of submitting the required documents. If it is taking longer, this may be due to downtime on the verification chain, which is usually resolved in no time. If verification is pending for more than 24 hours, kindly reach out to our support directly to investigate the situation.

How to send Bitcoin (Lightning network)?

Log in to your iPayBTC wallet. Click on "Send Bitcoin" and select "Lightning Network." Paste the recipient's Lightning Invoice or URL. Enter the amount you want to send. Review transaction details and confirm the payment. Done! Your Bitcoin is sent instantly with minimal fees.

Download the iPayBTC app or visit the official website ipaybtc.app Click on "Sign Up." Enter your email and create a strong password. Verify your email/phone with the OTP sent to you. Set up Two‑Factor Authentication (2FA) for extra security (recommended). Verify your account with the KYC feature You're all set! Start trading and transacting with Bitcoin.

What is a bitcoin wallet?

A Bitcoin wallet is a digital tool that allows you to store, send, and receive Bitcoin securely. iPayBTC provides a user‑friendly wallet to manage your BTC effortlessly.

I have not received the payment made to me via lightning, why?

Wait a few minutes and check again. Ask the sender for a transaction ID and confirm if it was completed. If the issue persists, contact iPayBTC Support with the transaction details.

What is a lightning network?

The Lightning Network is a second-layer solution for Bitcoin that enables fast, low‑fee transactions.

What is refer and earn?

iPayBTC’s referral program rewards you for inviting friends to join. Simply share your unique referral link and earn rewards when they sign up and complete transactions.

P2P (Peer‑to‑Peer) trading allows users to buy and sell Bitcoin directly with each other, without a middleman. IpayBTC’s P2P marketplace ensures secure and smooth transactions.

What type of cryptocurrency can I trade on iPayBTC?

Currently, iPayBTC supports Bitcoin (BTC) trading through P2P, Lightning Network, and on‑chain transactions. More assets may be added in the future!

A partner sent me some Bitcoin and I have not received it in my iPayBTC wallet

If you have this experience, kindly reconfirm if payment was sent to the correct address you provided from your iPayBTC wallet. For unusual long periods, kindly reach out to our support. Alternatively, transactions on the Bitcoin blockchain can be publicly tracked on the mempool using the transaction hash.

My OTP for sending out is not arriving on my phone?

If you’re not receiving your OTP (One‑Time Password) when trying to send Bitcoin, try these steps: • Check Network Signal — Ensure you have a strong mobile network connection. • Confirm Phone Number — Verify that your registered phone number is correct in iPayBTC settings. • Resend OTP — Wait for 30‑60 seconds and tap "Resend OTP" to try again. • Check Spam Messages — Some SMS providers may filter OTP messages. • Try a Different Method — email OTP or Google Authenticator. Still not working? Contact Support.

What are value added services?

iPayBTC’s Value‑Added Services let you use Bitcoin for everyday expenses like: • Buying airtime & data • Paying electricity bills • Satoshi converter

My Bitcoin send‑out is pending for a long time

Usually, Bitcoin transactions are processed based on the Bitcoin blockchain processing time, so we do not have control over the time the transactions are processed. When the pool is congested, it might take a longer period to process a transaction. If your withdrawal is taking an unusually long period, kindly reach out to our support.

What is KYC verification?

KYC (Know Your Customer) is a process where users verify their identity for security and compliance. It helps prevent fraud and ensures a safer platform for all iPayBTC users.

What is the maximum Bitcoin balance I can hold in my wallet?

There is no fixed limit on how much Bitcoin you can hold in your iPayBTC wallet. However, always ensure you follow security best practices for safe storage.

What is the minimum Bitcoin amount I can send or receive in a single transaction?

For Lightning payments, the minimum is typically a few satoshis (smallest Bitcoin unit). For on‑chain transactions, the minimum depends on network fees at the time of sending.

How do I enable two‑factor authentication for my account?

Protect your account with 2FA: • Go to Settings > Security > Enable 2FA. • Download Google Authenticator or Authy. • Copy the secret key or the QR code provided by iPayBTC. • In the Authenticator app, paste the key and label it “iPayBTC”. • Copy the 6‑digit code and sync it with iPayBTC. 2FA is now activated!

What is Onchain network?

The On‑Chain Network refers to Bitcoin transactions that are processed directly on the Bitcoin blockchain. These transactions are secure but can take longer due to network congestion.

What is a LN Address?

An LN (Lightning Network) address works like an email for Bitcoin Lightning transactions. It allows users to send and receive BTC instantly over the Lightning Network.

What happens if I send bitcoin to a wrong address?

Unfortunately, Bitcoin transactions are irreversible. Once sent, funds cannot be retrieved unless the recipient willingly sends them back. What You Can Do: 1. Double‑check the address before confirming. 2. If you know the recipient, contact them immediately and request a refund. 3. If the address is invalid, the transaction may fail, and your Bitcoin will remain in your wallet. 4. If the address is valid but incorrect, your funds are lost unless the owner returns them.

I am not receiving any emails in my registered mail. Why?

Check your spam/junk folder—sometimes emails get filtered. Ensure your email storage isn’t full. If using work or school emails, your admin may be blocking external messages. Try adding iPayBTC’s email to your safe sender list.

How can I dispute a trade on iPayBTC?

If there’s an issue with your P2P transaction: • Go to the Trade History section. • Click on the affected order and select “Raise a Dispute.” • Provide necessary details and evidence (screenshots, payment proof). Our support team will review and resolve the dispute promptly.

How to receive Bitcoin (lightning network)?

Go to your iPayBTC wallet and click "Receive Bitcoin." Select "Lightning Network." Enter the amount you wish to receive. Generate and copy your Lightning Invoice (QR code or payment request link). Share it with the sender. Once completed, you'll receive Bitcoin instantly!

How to receive Bitcoin (on chain)?

Go to your iPayBTC wallet and click "Receive Bitcoin." Select On‑Chain Network. Your unique Bitcoin wallet address will be displayed. Copy the address or scan the QR code to share with the sender. Once completed, you’ll receive the Bitcoin after confirmation on the blockchain.

My P2P order is complete, but I did not receive the equivalent Bitcoin in my wallet.

Step 1: Check your transaction history in the app. Step 2: Ensure the seller has marked the trade as completed. Step 3: If your order still isn’t credited, contact iPayBTC Support immediately.

Learn how to buy Bitcoin in Nigeria with step-by-step

If you are wondering how to safely buy, send, and store Bitcoin, the short answer is this: use a trusted exchange, double-check wallet addresses before sending, and store your Bitcoin securely in a hardware wallet. Following these steps will help protect your investment from hackers, scams, and costly mistakes.

In this guide, we will break down how to handle Bitcoin safely from start to finish, whether you are buying your first satoshi or managing a growing crypto portfolio.

What Is Bitcoin?

A Quick Overview

Bitcoin is a digital currency that runs on blockchain technology. Unlike traditional money controlled by banks or governments, Bitcoin is decentralized, meaning you control it entirely. Your ownership is tied to private keys, which act as secret passwords to your funds.

If someone gets your private key, they can take your Bitcoin. And if you lose it, you lose access to your funds forever.

Why Safety Is Crucial

Bitcoin transactions are permanent. Once you send it, there’s no “undo” button. Because of that, handling Bitcoin safely is not optional; it’s essential. Every step, from buying to storing, requires attention and care.

How to Buy Bitcoin Safely

Buying Bitcoin safely starts with choosing the right platform and payment method. Let’s explore how to do it the smart way.

Choose a Trusted Exchange

The first and most important step is picking a reputable exchange. Popular options include iPayBTC, Coinbase, Binance, and Kraken. These platforms have strong security measures, transparent fees, and millions of users worldwide.

A good exchange should offer:

1. Two-factor authentication (2FA)
2. Regulatory compliance
3. Transparent fee structures
4. Good customer reviews
5. Reliable support channels

Tip: Avoid unknown or unverified platforms that promise “instant” or “discounted” Bitcoin deals. Always double-check the website URL before entering any personal details.

Complete Verification (KYC)

Legitimate platforms like iPayBTC and Coinbase require users to complete Know Your Customer (KYC) verification. This process adds a layer of security and helps protect against fraud. Always upload your documents through the official site or app only; never through links shared via messages or emails.

Use Secure Payment Methods

When buying Bitcoin, stick to safe payment options like bank transfers or debit cards. These are traceable and supported by most exchanges. Avoid wiring money to individuals or paying through unfamiliar apps that don’t offer buyer protection.

Avoid Common Buying Scams

Phishing scams are common in the crypto space. Some fake websites imitate real exchanges to steal your login details. Always type in the exchange’s URL manually (for example, coinbase.com) instead of clicking on ads or email links.

If a site offers Bitcoin at a huge discount or promises “guaranteed profits,” close the page immediately; it’s a scam.

How to Send Bitcoin Safely

Sending Bitcoin is easy once you understand how it works, but even small mistakes can lead to permanent loss.

Understand Bitcoin Addresses

Every Bitcoin address is a unique string of letters and numbers, like bc1qxy.... Think of it as your crypto version of a bank account number. But unlike banks, if you send Bitcoin to the wrong address, it’s gone forever.

Step-by-Step Guide to Sending Bitcoin

Log in to your wallet or exchange (like iPayBTC, Binance, or your hardware wallet).
Copy the recipient’s Bitcoin address carefully.
Paste it into the “Send” or “Withdraw” field.
Double-check that the address matches exactly.
Send a small test transaction first to confirm it arrives.
After confirmation, send the full amount.

Double-Check Everything Before Sending

Malware can replace wallet addresses when you copy them. To prevent this, always compare the first and last few characters of the address before sending. Using QR codes can also help you avoid typing or copying mistakes.

How to Store Bitcoin Securely

Once you have your Bitcoin, storing it safely is your top priority. Let’s look at your main storage options and how to protect them.

Hot Wallets vs. Cold Wallets

Hot Wallets: Connected to the internet (like exchange or mobile wallets). Great for small amounts and quick access, but more vulnerable to hacking.
Cold Wallets: Offline wallets (like hardware or paper wallets). Ideal for long-term storage and larger amounts because they’re not connected to the internet.

If you’re holding Bitcoin for the long term, a cold wallet like Ledger, Trezor, or Coldcard is your best choice.

Best Practices for Hardware Wallets

1. Purchase hardware wallets only from official stores.
2. Set them up yourself, never accept preconfigured devices.
3. Regularly update the firmware through the manufacturer’s website.
4. Verify all transaction details on the device screen before confirming.

Backup and Recovery Tips

When you set up a wallet, you’ll receive a seed phrase (usually 12 to 24 words). This is your backup key to recover funds if your device is lost or damaged.

Protect Your Seed Phrase

Write it down on paper, never store it digitally. Keep multiple backups in secure, separate locations. Do not take pictures or upload it to cloud storage. Treat it like the master key to your digital vault.

Advanced Security Tips

Keep Devices Updated

Regularly update your phone, computer, and wallet apps. Many hacks happen because of outdated software that leaves your system vulnerable. Enable automatic updates whenever possible.

Beware of Scams and Fake Apps

Fake wallet apps and phishing sites are everywhere. Only download official apps from verified sources like Google Play, the App Store, or the exchange’s official website. Remember, no legitimate platform will ever ask for your private keys or seed phrase.

What to Do if Something Goes Wrong

Even experienced users can run into issues. Acting quickly can help reduce damage.

Lost Wallet Access

If you lose access to your wallet but still have your seed phrase, you can restore your Bitcoin using any compatible wallet app. Without the seed phrase, recovery is impossible, so keep those backups safe.

Compromised Accounts

If your account gets hacked:

1. Move any remaining funds to a new, secure wallet immediately.
2. Change all passwords.
3. Reset or enable two-factor authentication.
4. Contact the exchange’s support team.
5. Scan your devices for malware or viruses.

Final Safety Checklist

Before buying, sending, or storing Bitcoin, go through this quick checklist:

1. Use trusted platforms like iPayBTC, Coinbase, or Kraken
2. Enable two-factor authentication (2FA)
3. Double-check wallet addresses before sending
4. Send test transactions first
5. Store long-term holdings in a cold wallet
6. Keep multiple backups of your seed phrase
7. Never share private keys with anyone
8. Stay alert for phishing scams

Following these simple habits can save you from most crypto disasters.

Conclusion

Owning Bitcoin gives you true financial independence, but it also comes with full responsibility for keeping your funds secure. By using reliable exchanges like iPayBTC or Coinbase, double-checking transactions, and safely storing your Bitcoin in a cold wallet, you can stay ahead of scammers and hackers.

Think of Bitcoin like digital gold; precious, valuable, and worth protecting with the same care you’d give to your most important possessions.

FAQs

1. What is the safest platform to buy Bitcoin?

Some trusted options include iPayBTC, Coinbase, Binance, and Kraken. Choose one that’s regulated in your region and offers strong security features.

2. Can I recover Bitcoin sent to the wrong address?

No. Bitcoin transactions are permanent, so always verify the recipient’s address before sending.

3. Should I keep Bitcoin on an exchange?

You can store small amounts on an exchange for convenience, but for long-term security, move it to a personal hardware wallet.

4. What’s the best way to protect my wallet?

Use 2FA, keep your seed phrase offline, and never share your private keys. Regularly update your devices and avoid unknown links or apps.

5. Is iPayBTC good for beginners?

Yes. iPayBTC is beginner-friendly, transparent, and offers strong protection measures for users who are new to buying Bitcoin safely.

How to Safely Buy, Send, and Store Bitcoin